DAM 101 for Financial Services

Businesses create so much content. One Aprimo customer has created over 10 million pieces of digital content alone. And that’s only counting the content they actually use: they archived over 20 million other pieces of content they weren’t using.

Financial services companies are seeing an explosion of content. For wealth and asset management firms, for example, reaching the next generation of investors requires new and different types of content. Imagine you are launching a new line of robo-advisor products—you’ll need to make different types of content for product promotions, paid ads, the website, social, advisors… the list goes on.

And that’s just for one product in just one geography. If you’re a financial services company that has multiple lines of business—like an insurer with multiple insurance products or a retail banking firm that also sells wealth management, mortgages, and loans, for example—your content needs skyrocket.

It’s no wonder that one Aprimo customer in a regulated industry goes through an average of 4,597 content reviews per day.

Time to give a DAM 

It’ll take a lot more than technology to solve many of the issues that arise when the need for content explodes. Organizations need to do things like create a content strategy, get leadership to see the value of content, and hire a team of expert content creators. No small feat.

But technology, especially digital asset management (DAM) software, can help. Financial Services firms have historically been behind the curve here, but it’s time for them to look into DAM to help ease content burden. How does DAM help? By helping you:

  1. Get to market faster, without sacrificing brand or regulatory compliance
  2. Make more use of the content you already have
  3. Get a better understanding of what content is working

 Emerge from the creative black hole

Content creation can be a black hole—a marketer may submit a creative brief and then wait weeks before they hear anything back about the project. Digital asset management software can help add some visibility by streamlining the content brief, content workflow, content review and approval processes, and regulatory and compliance processes. With DAM, everyone is not only aligned on what’s in the queue and when it’s due, but, importantly, everyone has visibility into what’s happening. This visibility helps keep everyone accountable across teams, individuals, and content agencies.

The proof is in the results—one Aprimo customer, Meyer, reported a 30% reduced time-to-market for product launches just by implementing a digital asset management solution.

Make better use of existing content 

Most organizations are already drowning in content—and much of that content isn’t even being touched. According to SiriusDecisions, 65% of created content isn’t ever used primarily because marketers simply can’t find it. Digital asset management solutions create a central, cloud-based place to manage assets and enrich them with things like rights, permissions, and tags that make them easy to find. It’s not just images and videos either—DAM solutions can manage disclaimers as well, so that financial services and insurance marketers never have to worry about whether they are using the wrong legal language.

And it doesn’t end there. Different business units and regions can not only reuse assets, but can also easily localize assets so that advisors, agents, and local branches can easily access and localize content. Having a DAM means no more creating endless assets from scratch, which significantly cuts down on content-creation time.

Understand content ROI 

So, all this content—all 10 million pieces from just one of our customers—is going out to customers. What did it do? What impact did it have, not only on a customer’s experience, but on the business?

DAM solutions can help financial services and insurance marketing teams start moving from a cost center to revenue generator, but they need to understand the ROI of their content so they can invest in the kinds of content that perform best. DAM enables teams to see which content is being downloaded by which groups to get a clear view on what’s connecting with people. DAM also shows marketing teams which channels the content is being used on, and how customers are interacting with that content.

With that crystal-clear view of the return on marketing investments, teams can stop following just their gut and start following the data.

Is your organization ready to take the plunge and use a DAM solution?

About the Author

Anjali is a product marketing director at Aprimo, and looks after the strategy, go to market, positioning, and messaging for the Marketing Productivity, Plan and Spend, and Digital Asset Management products. Prior to joining Aprimo, she spent 8 years at Forrester Research where she covered the marketing technology, eCommerce, and digital agency spaces.

More Content By ANJALI YAKKUNDI
Anjali Yakkundi
 

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